Brunei a top-thee exporter of crude oil to Vietnam

According to the General Department of Vietnam Customs, from January 1 to November 15, Vietnam spent US$7.33 billion to import 12 million tonnes of crude oil, up 20.4% and 24.9% in volume and value year-on-year, mainly from Kuwait, Brunei, and Nigeria.

Specifically, in the first 10 months of this year, Vietnam imported 9.82 million tonnes of crude oil worth US$5.97 billion from Kuwait, up 38% in volume and 37.5% in value year-on-year, while the import volume and value from Nigeria surged from 120,455 tonnes worth US$89.2 million to 697,949 tonnes worth US$431 million, up 479.4% and 383% year-on-year, respectively.

Brunei has become one of the three biggest crude oil exporters to Vietnam during the same period. Specifically, Vietnam imported 162,939 tonnes of crude oil worth US$105.3 million from Brunei.

Crude oil exports

From January 1 to November 15, 2024, Vietnam exported 2.37 million tonnes of crude oil worth US$1.59 billion, down 1% and 1.9% in volume and value compared to the same period last year, respectively.

Thailand became the largest importer of Vietnamese crude oil, buying US$623 million worth of crude oil from Vietnam in the first 10 months of 2024, up 2.7% year-on-year.

It was followed by Australia with US$475 million (up 0.4%); Japan, US$126.8 million (down 34.6%); China, US$18.5 million (down 24.4%); the Republic of Korea, US$16.3 million (down 36.5%); Malaysia, US$7.9 million; and Singapore, US$81.7 million (up 180%)./.